AUDJPY is approaching our first resistance at 81.96 (horizontal overlap resistance, 100% FibonaccI extension) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 81.14 (horizontal swing low support).
Stochastic (34,5,3) is also approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (34,5,3) is also approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.